Million loss for Fraport: the Bitter message from the airport

Without the removal of 3000 to 4000 to 22,000 in Frankfurt and a new, leaner cost structure, Fraport AG will get you to the limits of their liquidity, if the ve

Million loss for Fraport: the Bitter message from the airport

Without the removal of 3000 to 4000 to 22,000 in Frankfurt and a new, leaner cost structure, Fraport AG will get you to the limits of their liquidity, if the very subdued growth of the air traffic numbers to continue, and the Corona-pandemic does not further increase. This is the bitter message of the half-year balance sheet, which presents the airport operator on Tuesday.

It is not the first Time since the beginning of the crisis, Executive Board Chairman Stefan Schulte removal a job of this magnitude, as a consequence, has called. He has fleshed out the Plan, and also operating not excluded-related redundancies if the target is not achieved solely with socially responsible measures, including severance payments, early retirement schemes and to understand the like.

The airport as a job Creator is only once in history. It is now a matter to save as many as possible of the so far, around 80,000 in several hundred companies at the airport about the crisis. Also, the airport operator, which currently only works with the important Instrument of short-time work.

But in view of the forecast Schultes, that the passenger numbers in Frankfurt in two to three years, 15 to 20 percent below the highs of 2019, and this means that Fraport will start with a leaner cost structure, and significantly less employees in the so-called new normal with Corona. The time to wait for a vaccine, has Fraport, has not even the air transport industry.

Updated Date: 04 August 2020, 15:19

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